The XRP Ledger processed more than 40,000 configuration transactions in late November, marking the highest account setup activity in years. The surge continued beyond routine custodial updates from BitGo, suggesting new institutional actors are preparing large-scale operations on the network. $644M in net inflows is a direct hint. Analysts tracking blockchain data said the pattern resembles structural preparation rather than maintenance.
What Happened: Configuration Surge
The ledger recorded an abnormal spike in AccountSet and Automated Market Maker Bid transactions this week, according to data shared by blockchain analyst Vet on Nov. 29. AccountSet transactions modify account settings including security protocols, AMM permissions and multi-signature configurations, typically deployed when institutions prepare accounts for new services or liquidity operations.
The activity persisted after BitGo completed its batch updates, indicating the transactions originated from additional sources.
Arthur, an XRPL metrics analyst, reported on Dec. 1 that the network also experienced a sharp increase in AMM Bid transactions immediately following Nov. 23. These transactions allow liquidity providers to secure positions within the ledger's automated market-maker pools, with early bidders often capturing the most profitable reward structures.
The timing coincides with several network developments. RLUSD approval processes have advanced, AMM infrastructure rollout has accelerated, and institutional onboarding has increased in recent weeks, according to observers tracking the network.
Also Read: Retail Investors Stay Passive While Bitcoin Whales Double Exchange Deposits, Research Shows
Why It Matters: Institutional Positioning
The transaction surge follows the debut of spot XRP exchange-traded funds in the United States. The products accumulated $643.92 million in net inflows and reached $676.49 million in total assets, with inflows recorded on nine of the last 10 sessions, according to SoSoValue data from November 2025.
While ETF operations do not directly interact with the XRP Ledger, large institutional custody requirements can trigger new account configurations, expanded wallet infrastructure and enhanced security systems.
These processes typically generate AccountSet transactions. Previous spikes tied to custodial maintenance did not reach current levels, analysts said, reinforcing the assessment that new participants are entering the network rather than existing entities conducting routine updates.
Read Next: Europol Shuts Down $1.4B Crypto Mixer Cryptomixer, Seizes $27M In Bitcoin